Pakistan International Airlines Corporation Limited (PIACL) is all set to enter the bidding process tomorrow (Tuesday) for its privatisation, with three bidders expected to submit their offers to acquire management control of the national carrier. Meanwhile, Fauji Foundation has withdrawn from the process, a PIA spokesperson confirmed. The three bidders are: A consortium comprising Lucky
Md. Iqbal Hussain Khan, High Commissioner/Ambassador of Bangladesh, called on Rashid Mahmood Langrial, Chairman, Federal Board of Revenue (FBR). During the meeting, both dignitaries reaffirmed the long-standing and historic brotherly relations between Pakistan and Bangladesh and agreed to enhance bilateral trade and strengthen mutual economic cooperation. It was also agreed that technical teams
Oil prices held steady on Tuesday after rising more than 2% in the previous session, as the US said it might sell the Venezuelan crude it has seized, while Ukraine’s attacks on Russian vessels and piers heightened fears of supply disruption. Brent crude futures edged lower by 6 cents, or 0.1%, to $62.01 per barrel by 0440 GMT. US West Texas Intermediate (WTI) crude slipped 9 cents, or 0.16%, to
After a brief selling pressure observed in the opening minutes, the Pakistan Stock Exchange (PSX) traded firmly in positive territory on Monday, as the benchmark KSE-100 Index extended its upward momentum amid improved investor sentiment. At 12:20pm, the benchmark index was hovering at 171,919.37, a gain of 514.89 points or 0.3%. Buying interest was observed in key sectors, including fertili
The debate on the economic structure and its consequences for the balance-of-payments crisis has become ever more prevalent as imports start increasing, subsequently leading to a higher trade deficit. Policymakers often start to panic as calls are made to curtail imports. Several key studies on the topic have highlighted low productivity, the inability to accumulate knowledge and generate the n